Social Insurance Bank
The Social Insurance Bank (SVB) carries out tasks in the field of social security in the Netherlands on behalf of the government. The SVB is also an important partner in developing new legislation regarding social security.
Founding of the Social Insurance Bank (SVB)
In 1956, the SVB emerged from the National Insurance Administration (which was established in 1901). The National Insurance Administration was the first governing body regarding social insurance; the Workmen’s Compensation Act 1901.
The SVB has a Governing Board which is appointed by the Minister of Social Affairs and Employment, but it performs its (government) tasks independently, it is an independent administrative body.
The primary task of the SVB is implementing laws and regulations, for example:
- The General Elderly Act (AOW)
If you live in the Netherlands, you are automatically insured by the General Elderly Act (AOW). This means that when you’ve reached the age of 65, you are entitled to a pension. The amount of your pension depends on the number of years you have been living in the Netherlands. You are entitled to a full AOW pension if you have lived in the Netherlands continuously from your 15th to your 65th.
- Child Benefits
You are entitled to a financial contribution for educating en raising your child when he/she is under 18, on condition that you live or work in the Netherlands. This contribution is called the Child Benefit.
- Surviving Dependants Act (ANW )
You are entitled to a financial contribution for the costs of your livelihood if your partner died when he or she worked or lived in the Netherlands. This is the Surviving Dependants benefit (ANW ). If you become an orphan because both your parents died, you are entitled to an orphan’s benefit, provided that you are under 16 years of age. If you are orphaned and between 16 to 21 years of age, you can claim child allowance in certain cases.
- The Personal Budget (PGB)
You are entitled to a financial contribution/ allowance/ benefit if you are in need of help due to old age or illness, a so-called Personal Budget (PGB).
- The Allowance for Parents of Disabled Children living at Home (TOG
In many cases, a disabled or mentally challenged child needs additional support. Besides Childs Benefits, you might be entitled to receive extra financial support through the TOG